In a nut shell, Wells argues it’s not running a charity (but of course) and that executive compensation is “designed to pay for performance and encourage long-term shareholder value.”
Fitch said it was able to gain comfort with less than a 100 percent sample size due to its on-site operational assessment of Flagstar’s procedures and controls…
Consultant Rick Roque: “There are many ways to structure a ‘transition’ bonus, and most bonuses are only partially paid up front with the rest based on closings over a period of time.”
Issuance of new single-family Ginnie Mae mortgage-backed securities fell sharply in the first quarter of 2018, according to a new Inside FHA/VA Lending ranking and analysis. The agency issued $92.58 billion in MBS backed by forward mortgages during the first three months of 2018. That was down 14.8 percent from the previous three-month period and represented the lowest quarterly total since early 2015. The 1Q figure is based on truncated loan amounts reported in Ginnie’s loan-level MBS disclosures. Reports with unrounded single-family loan amounts show a total of $95.75 billion in first-quarter MBS issuance, including FHA reverse mortgages. The loan-level data reveal that production fell 6.9 percent from February to March, when just $28.21 billion of Ginnie single-family securities were issued. That was the lowest monthly volume since February 2015. Both the FHA and VA programs saw significant ... [Charts]
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